Australian beef production could increase by 5% in the first half of 2023

Australian beef production could increase in the first half of 2023, as the herd continues to rebuild, which would increase the supply for the US, Japanese and South Korean markets, according to the BNN Bloomberg media. in his web page. of a major credit institution in the agri-food sector. Thus, the aforementioned medium details that the favorable weather conditions have improved pastures, which has allowed producers to continue increasing the number of cattle heads after years of drought, which ended in 2020, according to the Rural Bank of Australia in its perspectives. agricultural. With slaughter rates rising, beef production is likely to rise 5% in the first half, although it will still be well below average, according to the bank. The slaughter rate will continue to be limited by the lack of manpower. In terms of demand, the picture is uneven in the main export markets. Australian beef producers have increasing opportunities to export to Japan and South Korea as US shipments ...